Funding Circle Holdings Limited (GB:FCH) has released an update.
Funding Circle Holdings plc has finalized an agreement to sell its US operations to iBusiness Funding, LLC for £33 million, a move that aligns with its strategy to focus on the UK market and is expected to enhance profitability. The deal includes all loan portfolios and anticipates a profit margin greater than 15% over the medium term. This strategic divestment follows their earlier decision to concentrate on the UK, where they project a profitable second half of the year.
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